XRP Legal Battle Begins On Wednesday
The SEC, the US Securities and Exchange Commission, has until January 15, 2025, to submit its initial brief on the Ripple case. The court had previously decided that XRP was not a security in and of itself when the appeal was filed.
The financial watchdog contesting some of the ruling’s findings, including how Ripple’s XRP sales on cryptocurrency exchanges and the private XRP sales of Chris Larsen and Brad Garlinghouse, two of the company’s executives, should be categorized. The upcoming brief will most likely revolve around those arguments.
SEC chair Gensler, who has spearheaded the agency’s vigorous targeting of the cryptocurrency sector, will resign on January 20. Donald Trump, the president-elect, will take office on the 20th.
Gary Gensler will be replaced as SEC Chair by Paul Atkins, suggesting possible adjustments to the agency’s stance on crypto regulation. The case may likely be resolved given Gensler’s departure.
Media reports predict that the SEC may cut back on or drop some crypto lawsuits. The SEC may instead prefer settlements, also known as “consent decrees,” which provide industry clarity and permit negotiated resolutions.
These settlements may help the industry meet regulatory requirements without completely abandoning cases by encouraging the SEC to create more precise guidelines and regulations.
Brad Garlinghouse, the CEO of Ripple, voiced optimism, pointing out that Atkins could “bring common sense back to the agency.”. “XRP may solidify its non-security status and possibly start a bullish price trend if the SEC withdraws its appeal as a result of this leadership change.

